The latest study on the Smart Lock Market industry includes a detailed analysis of the future trends and demands for the forecast period, 2020 - 2030 . The report is furnished with the latest scenario and growth outlook of the market with regard to the impact of the pandemic.The report considers 2017-2018 as historical years, 2019 as the base year, and 2020- 2030 as the forecast timeline. The report offers strategic recommendations to the key stakeholders and investors to help them ascertain maximum returns on their investments and formulate new strategic business plans.
The global smart lock market size is expected to reach USD 8.87 billion in 2028 at a CAGR of 15.0% during the forecast period, according to the latest report by Emergen Research. Increasing need for safety and security of property, personal items, and other valuable items, rising adoption of smart home automation systems, growing preference for smart locks in commercial and corporate buildings, and rapid advancements in the smart lock technology are key factors expected to drive market revenue growth over the forecast period. Growing use of smart locks in hospitality sector to improve in-room security and to regulate access to authorized individuals in factories, airports, banks, and defense zones, among others are some other key factors fueling the revenue growth of the market.
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The report further divides the Smart Lock Market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Smart Lock Market
Key players in the market Assa Abloy AB, Allegion Plc., dormakaba Holding AG, Spectrum Brands Holdings, Inc., SALTO Systems, Onity, Inc., Samsung SDS, Panasonic Corporation, The Master Lock Company, and Godrej Group.
Covid 19 impact analysis :
The report considers the COVID-19 pandemic that is currently unfolding as a key market influencer. The report provides a thorough estimation of the overall impact of the pandemic on the Smart Lock Market nd its vital segments. The report also discusses the impact of the pandemic across different regions of the market. It also offers a current and future assessment of the impact of the pandemic on the Smart Lock Market
Market Drivers:
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in RD activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
Smart Lock Market Segmentation
For the purpose of this report, Emergen Research has segmented the global smart lock market on the basis of lock type, authentication method, communication protocol, application outlook, and region:
Lock Type Outlook (Revenue, USD Billion; 2018-2028)
- Lever Handles
- Deadbolts
- Padlocks
- Others
Authentication Method Outlook (Revenue, USD Billion; 2018-2028)
- Pin Code
- Biometric
- RFID Cards
Communication Protocol Outlook (Revenue, USD Billion; 2018-2028)
- Wi-Fi
- Bluetooth
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Residential
- Commercial
- Industrial
- Institutional Government
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Smart Lock Market Regional Segmentation
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Answered by the Smart Lock Market Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Smart Lock Market market?
What are the key product types and applications of the Smart Lock Market industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Smart Lock Market market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the Smart Lock Market Market by 2027?
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
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